Shopify (NYSE:SHOP) Price Target Raised to $93.00 at Barclays

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price lifted by Barclays from $70.00 to $93.00 in a research note released on Wednesday,Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

A number of other equities analysts have also commented on SHOP. Morgan Stanley raised their price objective on shares of Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Evercore upped their price target on Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Loop Capital raised their price objective on Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Piper Sandler upped their target price on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Truist Financial decreased their price target on shares of Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Trading Down 0.6 %

Shares of NYSE:SHOP opened at $108.48 on Wednesday. The stock has a market capitalization of $139.98 billion, a price-to-earnings ratio of 101.38, a PEG ratio of 3.71 and a beta of 2.36. Shopify has a 1-year low of $48.56 and a 1-year high of $115.62. The company has a 50 day moving average price of $81.97 and a 200 day moving average price of $71.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Shopify had a return on equity of 11.60% and a net margin of 16.84%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. On average, research analysts anticipate that Shopify will post 0.76 EPS for the current fiscal year.

Institutional Trading of Shopify

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Shopify by 9.6% in the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after purchasing an additional 471,280 shares during the period. Conway Capital Management Inc. acquired a new position in shares of Shopify in the 3rd quarter valued at $864,000. M&T Bank Corp lifted its holdings in shares of Shopify by 2.4% during the 3rd quarter. M&T Bank Corp now owns 42,051 shares of the software maker’s stock worth $3,370,000 after acquiring an additional 1,001 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Shopify during the 3rd quarter valued at about $33,676,000. Finally, EWA LLC bought a new stake in Shopify in the third quarter valued at about $214,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.